Lloyds Bank has said it will target 9000 job cuts in the next three years as it seeks to reduce its branch presence in the UK by a net total of 150 branches.
In a strategic update accompanying its Q3 results, Lloyds said cuts were part of an efficiency drive to move its services online.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
It wrote; "We will realign our branch capabilities to operate more efficiently, increasing self-service technology and investing in remote advice services, with an increasing number of counter transactions migrating to digital and self-service."
Lloyds said details of where the job cuts would fall were not available and could not say if Lex Autolease would be affected.
Lloyds stated that it intends to supply £30bn of additional net lending to UK personal and commercial customers over the next three years, including asset finance and leasing.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
